ASC 6.67% 1.6¢ limited

Adultshop price weakness - AFR article

  1. 3,567 Posts.
    Another example of the market we're in. The AFR said today the recent share price weakness was due to statements made by Day which he states his plans to invest in online gaming/dating. This is old news and he said this months ago. Investors seem to be very risk averse at the moment.

    I believe the recent weakness is due to short term speculators selling their long positions. People were expecting a large run with the cashflow report and all wanted to sell the next day... with no major press articles, the announcement attracted few new investors and hence the share price fell.

    I guess alot of other stocks have fallen and hence people might be selling in order to invest in "cheaper" stocks.

    Any other opinions are very welcome.
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